Latham & Watkins Advises ib vogt on Pan-Asian Solar and Battery Storage Joint Venture With AC Energy Corp

Latham & Watkins has advised ib vogt, a leading utility-scale solar development platform, on its joint venture with AC Energy Corp (ACEN) to set up a platform to fund the construction and operation of large-scale solar power plants and battery storage assets across Asia. The joint venture partners will focus on late-stage, shovel-ready projects in Indonesia, Vietnam, Malaysia, Laos, Bangladesh, and other countries in the region.

The majority of projects will stem from ib vogt’s Asia development pipeline of more than 10 GW with initial projects planned to go into construction in the coming year. The platform will also be open to acquire late-stage projects from local and regional developers. Under the terms of the deal, ACEN expects to invest up to US$200 million in equity, as well as debt funding to accelerate the deployment of renewable energy in Asia.

The Latham team was led from Singapore by corporate partner James Clayton-Payne and finance partner Don Stokes, with counsel Penelope Davey and associate Siana Bell.